Thursday, May 30, 2024

Piaggio Launches Battery Subscription Model For Electric Vehicles

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Piaggio Vehicles has announced a groundbreaking “Battery Subscription Model” for its Apé Elektrik electric 3Ws.This innovative program aims to revolutionize 3EV ownership by separating the upfront cost of the vehicle from the battery. Customers can now purchase the Apé Elektrik for INR 2.59 lakhs (ex-showroom) and subscribe to a high-quality Piaggio-approved battery pack for a monthly fee leased through the dealership.

The subscription model goes beyond affordability. It addresses a major pain point – battery anxiety. Customers can now enjoy the benefits of electric mobility without worrying about battery maintenance, lifespan, or replacement costs. Piaggio is taking full responsibility for battery health, offering peace of mind for long-term EV ownership.

Piaggio India believes this model can be a game changer for policymakers looking to sustain EV growth beyond the subsidy era. By addressing affordability and battery concerns, the subscription model can encourage wider adoption of electric 3Ws, leading to cleaner transportation and reduced emissions.

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Subscription Model Details

· Customers purchase the Apé Elektrik chassis directly from dealerships for INR 2.59 lakhs (ex-showroom Maharashtra).

· The battery is provided to the customer at the dealership for a monthly rent.

· The vehicle chassis and powertrain are registered in the customer’s name, allowing for loans with hypothecation on the chassis and powertrain through NBFCs.

Subscription Tenure and Benefits

· The battery lease term is 120,000 kilometres or 8 years for cargo vehicles and 150,000 kilometres or 8 years for passenger vehicles.

· After reaching the designated mileage, the monthly rent reduces to INR 0.

· The subscription includes battery replacements at the same rental amount after the initial lease term.

Mohit Soni
Mohit Soni
NOT A Commander, Director, Editor-In-This/ That, CEO, MD, President, Entrepreneur, etc etc. Just a first employee at Thrust Zone with a team of enthusiasts who love car and motorcycles more than anything else in the world, just like I do. Hashtag blessed

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